Sramana Mitra: You sold from bootstrapped directly to exit right? Jay Perkins: Right. When you’re building a business, it’s not easy. You can live and die with the day-to-day. Something good happens and you’re on cloud nine. Then a customer gets a damaged product. Sramana Mitra: What kind of exit price did you get for
Sramana Mitra: How long from the point you started did it take you to get to $1 million? How long did it take you to get to $5 million? Jay Perkins: A million would have been in our fourth year. We did $60,000 in our first year, $270,000 in our second year, and $750,000 the
Sramana Mitra: At what point did you plug Kabbage into your financing process? Jay Perkins: That was probably about four or five years in. Sramana Mitra: So for four years, you operated as a fully-bootstrapped company? Jay Perkins: Yes, it was tough. We’d be out of the most popular SKUs for four to five months
Sramana Mitra: What did you do? You said you started a company on the BigCommerce platform? Jay Perkins: I started a business called Kettlebell Kings while I was still employed at BigCommerce. Kettlebells are basically fitness equipment. Along with my co-founders, we would hold meetings for a year and a half leading up to when
There are roll-ups of e-commerce brands going on right now. This case study delves into one such that has exited into a roll-up effort. Jay Perkins currently runs Living.Fit which produces digital workouts, fitness education courses, and fitness equipment. Sramana Mitra: Let’s start at the very beginning. Where are you from? Where were you born, raised, and in what